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What’s a good amount of money to make as a household to be “good” in Boston? I’m talking expenses and housing for family of four. Mostly asking to see if I ever have a shot on goal for a decent house and stress free living or if Boston is too cash 😅

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Depends on how much you care about schooling / extracurriculars. If you want to live in a good neighborhood close to the city with good schools/decent commute, you’ll be looking at $1M + for homes. Many of our friends make over $300k with children and feel like we are squarely lower middle class here.

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Yes, pre tax.

The housing market here is nuts. People are putting in offers at $50-75k over asking. I say rent a single family for a while and pack away funds to buy if that’s what you want. I think probably $175k as a household is doable, depending on how old your kids are, public vs private school cost etc. $200k is more comfy

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Agree with D1. But I still think “close to ask” is an arbitrary measure.

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My realtor once made an offhand comment that “if you have a combined HHI under $400k, it’s tough out there.” Obviously that’s an absurd comment…but also not entirely wrong assuming you are talking to the right audience and understand that yes people survive on much less etc.

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Oh gosh that’s depressing- how can anyone afford to own here??

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We're a family of 4, total HH income $225k, own a single-family home in Melrose. We're very frugal, drive a 10 year old car (only have 1 car). Living on that income is very easy and comfortable - we save something like 60% of our post-tax income. I will say, we were very lucky to have bought our home 8 years ago for $400k - the market was heating up at that time, but nothing like it is now. The numbers for our family wouldn't work as well if we had paid $800k for the home - it would still be doable, but I wouldn't have been able to dump as much cash into the stock market and would have missed out on a lot of gains. I empathize with all you folks trying to buy a first home in the Boston area right now - I hope it gets better soon.

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I know you could get a nice apartment downtown Boston for around $2800 month. Not sure about taking care of kids there though.

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@SA1 it’s all about negotiation. See how long the unit has been on the market and offer under the monthly price. This works best on units in large prof managed buildings

Affordable housing is kinda hard out here. My wife and I are combined $278k base and we live in a 540k 2br/ba condo near upmans corner. Homes here are pretty expensive and on top of that most day cares are $550 a week. So we went with a home day care that was about half that. We live pretty comfortably and can save but I feel like with another kid or a car note or a $850k house it would be def less comfortable

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